Sep
06
I am looking for a reputable coin dealer in L.A. to determine the worth of my collection. Any thoughts?,?
yogi asked:
I mostly have Morgan Dollars, but I have a fair amount of uncirculated coin sets from the 1970's along with some "silver certificates".
I mostly have Morgan Dollars, but I have a fair amount of uncirculated coin sets from the 1970's along with some "silver certificates".
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2 Comments
You could find out how much they go for generally, by checking E*Bay. Each of these items is up for sale on E*Bay daily. Sorry to say it, but Morgan Silver Dollars only go for about the price of their silver, plus a few extra bucks for their age. Average about $10-$20 tops, depending upon condition. Uncirculated coin sets from the 70′s or more recent, go fairly cheaply at anything from about $3.50 to about $7 per set, and Silver certificates go for anywhere from $1.50 to $5.00 tops. If you’re lucky enough to have an error Silver certificate, you might be able to get about $15 top $20 for it, depending upon the condition, age, type of error, etc.
If your coins are “slabbed” (AKA: Inside a sealed plastic case with a certificate of authenticity or a number from one of the Numismatic Organizations, they will sell for a higher price.
Dealers are in the business of buying and selling, and may not give you a fair indication of a collection’s true value, only their ‘buy’ price. The best way for you to get a true market value is to research it yourself, which may take a little time, but won’t be difficult. Nothing you have, even the Morgans, are rare, and sales records for all of it, in sufficient numbers to give a fair sampling, will be readily found on eBay completed searches. Be sure to grade your material accurately and compare it to material in the same grade. Do not compare yours to professionally-graded or ‘slabbed’ material unless yours is also, because graded will sell for higher prices than ungraded or ‘raw’ material. Once you have determined a fair market value for your collection, then check with dealers for their ‘buy’ price. If they offer you 75% and down, do not be surprised.